The trend in tourism has shifted recently to ecotourism, placing more value on the local community, culture, and the natural environment. However, tourism facilities previously owned by the community are eventually replaced by a private entity, according to the tourism development cycle developed by Butler (1980). Therefore, the relationship among tourism stakeholders at the local level needs to be strengthened to ensure the sustainability of tourism development that will benefit the local community. The aim of this research was to identify possible collaborations between Community-based Tourism (CBT) organizations, private investors, and the Local Government Unit (LGU) to strengthen tourism development and management of the Bojo River Cruise in the municipality of Aloguinsan, Cebu Province. This location was selected because it is one of the more successful local tourism initiatives;; it has received awards from multiple agencies as one of the best examples of community-based tourism. Primary methodologies for data collection included a questionnaire for the local community and key interviews to confirm its results. The survey included thirty (3) out of iffy-two (52) members of the Bojo Aloguinsan Ecotourism Association (BAETAS), the local organization which manages the river cruise activities, and all of the eight (8)local residents who work for a private resort. The results of the survey indicate that tourism development in the area has had economic, social, and environmental benefits for the locals. However, they also indicate that tourism activities could work against local values in the future. Responses reveal that the partnership between the community organization and the private sector in Aloguinsan is weak, due to the general skepticism of the local community towards private investment.